Paymetric, a provider of payment management solutions, announced on Wednesday the launch of XiVerify, a fully integrated fraud management solution designed to keep merchants in compliance with PCI data security standards.
“We continue to lead the industry with innovative solutions that enable our clients to run their business more efficiently,” Paymetric President and CEO Asif Ramji said. “XiVerify delivers a fully integrated fraud management solution that optimizes the successful authorization of payments within enterprise systems, including mobile and web.”
Paymetric partnered with fraud management solution providers to develop XiVerify, which can be customized by merchants to meet their specific needs.
The solution provides fraud protection by eliminating sensitive credit card data from the merchant environment, allowing merchants to conduct business while maintaining a secure data framework.
“With exponential growth of ecommerce transactions comes a corresponding rise in fraudulent transactions,” Cameron Balash, the senior vice president of sales and business development at Paymetric, said. “Online payment fraud costs businesses billions of dollars each year, not just in fraud loss, but in administrative overhead as well. Through the seamless integration between Paymetric’s XiSecure and XiVerify solutions, merchants everywhere can accept more good orders and grow their business faster, all while keeping card data secure and maintaining PCI compliance.”